⸺ Obituary · February 19, 2021 ⸺
“Bitcoin's Fundamental Value Is Zero”
Steve Hanke
Photo: Macroguy7979 (CC BY-SA 4.0), via Wikimedia Commons
“#BREAKING: another day, another record for #Bitcoin. Today, bitcoin broke $55,000/#BTC, which represents a 473% gain in the past 12 months. Remember, while the BTC bubble keeps growing, it’s fundamental value is zero.”
Price at death
$55,762
Today
$61,577
Resurrection
×1.1
On 2021-02-19, Steve Hanke (Economist and Professor, Johns Hopkins University) declared Bitcoin dead via Twitter. Bitcoin was trading at ~$55,762 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on February 19, 2021, when one Bitcoin traded for approximately $55,762. Since then, Bitcoin has appreciated by 10% relative to the price on the day Crypto Twitter (X) pronounced it finished.
